Egypt predicts a $18 billion increase in GDP by 2050 due to green hydrogen

Michael Brown

Global Courant

The Egyptian Cabinet’s Information and Decision Support Center released a report predicting an increase in Egypt’s GDP of between $10 and $18 billion due to an almost seven-fold increase in the green hydrogen economy in 2050.

According to Tuesday’s report, Egypt ranks fifth in the Arab world and North Africa in the green hydrogen index from Fitch Solutions for 2022.

The report discussed the main legislative framework for promoting green hydrogen projects in countries such as Germany, South Korea, the European Union, India, France, Chile and the United States.

- Advertisement -

Electricity exports from Egypt to neighboring markets and to Europe are also expected to increase.

In its 2021 report, the European Bank pointed to the importance of gas infrastructure and Egypt’s large investments in gas, in addition to the possibility of blending green hydrogen into available gas networks.

This indicates the opportunity to use current natural gas assets to support green hydrogen production, and the availability of clear incentives to explore green hydrogen.

- Advertisement -